CREDIT CORPORTATION PNG 2019 AGM 27 JUNE 2019
Disclaimer This presentation has been prepared and issued by Credit Corporation (PNG) Limited (the “Company”), and may not be reproduced in whole or in part, nor may any of its contents be disclosed to any other person without the prior written consent of the Company. This presentation is provided by the Company for general information purposes only, without taking into account any recipient ’s personal objectives, financial situation or needs. It should not form the basis of or be relied on by the recipient in considering the merits of any particular transaction and does not purport to contain all of the information that an interested party may desire. It is not an offer to buy or sell, or a solicitation to invest in or refrain from investing in, any securities or other investment product. 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Actual future results and operations are subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the control of the Company, and could vary materially from the Forward Statements. Similarly, no representation or warranty is made that the assumptions on which the Forward Statements are based may be reasonable. No audit, review or verification has been undertaken by an independent third party of the assumptions, data, historical results, calculations and forecasts presented. In receiving this presentation, each recipient acknowledges that it shall not deal or cause or procure any person to purchase, acquire, dispose of or deal in any securities of the Company in breach of any laws and regulations relating to insider dealing, market abuse or securities in general of Papua New Guinea and elsewhere. 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WELCOME
DIRECTORS Mr Syd Yates Dr Albert Mellam Ms Faye-Zina Lalo Mr Johnson Kalo Mr James Kruse Mr Richard Sinamoi Mr Michael Varapik
SUBSIDIARY BOARD MEMERS & MANAGEMENT Subsidiary Board: Mr Adrian Wickham CC Solomon Islands Board Mr William Parkinson CC Fiji Board Mr Ashleigh Matheson CC Fiji Board Management: Mr Peter Aitsi Group Chief Executive Officer Mr Andy Roberts General Manager, CC Finance Mr Jeff Undah Group Chief Financial Officer Mr Peter Dixon Managing Director, CC Fiji Ltd Mr Tony Langston Managing Director, CC Solomon Islands Ltd Mr Johnny Wilson Managing Director, CC Vanuatu Ltd Mr Chris Durman Country Head, CC Timor-Leste Ltd RP. Mrs Beverlyn Malken Corporate Services Manager/Company Secretary
AUDITOR & LEGAL ADVISOR Herbert Maguma KMPG (Auditors) Jeremy Harwood Corrs Chambers Westgarth (Lawyers )
PROXY TALLY Proxies have been received for this meeting representing 79.02% ( 243,327,548 ) of the company’s issued shares. Proxies electing Chairman to Vote 25.34% (22 Shareholders)
ORDER OF MEETING 1. Chairman’s Remarks 2. CEO’s Presentation 3. Business per the Notice of Meeting 4. Any other Business & Questions 5. Close
DIVIDEND • 2018 Final Dividend declared of 13 toea per share to be paid on 23 rd August 2019. 10
A HISTORY OF ACHIEVEMENT • Credit Corp has been the foundation financier for many of PNG’s most successful businesses • The first major developer of premier residential land in Port Moresby • One of the first PNG companies to expand into the Pacific • Played a pivotal role in the BSP/PNGBC merger. 12
NEW STRATEGIC DIRECTION • Enhancing the products and services we offer our customers • Using technology to make it easier and simpler to do business with us • Modernising our technology platforms to reduce costs and drive innovation. 13
2018 PERFORMANCE OVERVIEW • Stabilise the Company’s financial performance and deliver improved results • Enhance our engagement with shareholders • Deliver improvements in service quality to our customers. 14
FINANCIAL PERFORMANCE NPAT Core Profit Earning per Share Interim dividend K98m increased K86m increased 32 toea increased 33% 14% 33% 6 toea per share increased 50% Net asset backing Group return on equity Group return on assets pcp K2.76 per share increased 6% 10.38% 5% per share Increased 94bps Increased 47bps 15
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